MUSINGS

 Communication is as old as Mankind itself. Early human beings started communicating or felt the need to communicate when they started living together, There was the need to communicate for food, danger against animals, nature etc. Initially this was conveyed through signs like hand imprints, giving way to guttural sounds and  cave paintings. This need became more complex as mankind developed slowly with the discovery of metal and then the wheel and then some language in the region where they settled in communities. Today communication is omnipresent. The average human being is seen to be communicating all the time, could be communicating to self, people around consciously or subconsciously, sometimes even unconsciously. Look around you, everyone of us, animals included are communicating. As an individual, we communicate keeping in mind the role that we are playing at that time. A parent or a child. Coaxing and cajoling, anger and threat, love and affection all are communicate...

  How to Value Inventory Inventory valuation is the cost associated with an entity's inventory at the end of a reporting period . It forms a key part of the cost of goods sold calculation, and can also be used as collateral for loans . This valuation appears as a current asset on the entity's balance sheet . The inventory valuation is based on the costs incurred by the entity to acquire the inventory, convert it into a condition that makes it ready for sale, and have it transported into the proper place for sale. Do not add any administrative or selling costs to the cost of inventory. The costs that can be included in an inventory valuation are: Direct labor Direct materials Factory overhead Freight in Handling Import duties Why Inventory Valuation is Important Inventory valuation is important for the following reasons: Impact on cost of goods sold . When a higher valuation is recorded for ending inventory, this leaves less expense to be charged to the cost of goods sold, ...